Highlights:
- The business has developed a revolutionary service that facilitates higher API security by bridging the gap between developers and security specialists.
- Pynt developed an API security autopilot that assumes the role of a white-hat hacker and uses human logic to build attacks and find vulnerabilities before they are discovered by real hackers in the real world.
The developer of a security autopilot tool for APIs, Pynt Inc., announced that it has secured USD six million in the seed fundraising round as it makes its platform generally available. Joule Ventures led the seed funding round that witnessed Honeystone VC’s and Dallas VC’s involvement.
The business has developed a revolutionary service that facilitates higher API security by bridging the gap between developers and security specialists. APIs are how two pieces of software can communicate. For instance, the weather bureau’s API makes daily weather information available. A smartphone’s weather app talks to its system via APIs, allowing it to display real-time weather conditions and forecasts.
Since APIs are essential to software applications, security is of utmost importance. More than 83% of all internet traffic in the world today is attributed to API systems, according to a report by Akamai Inc. However, a lot of them have numerous security flaws. As seen by recent high-profile attacks on X, formerly Twitter Inc., and LinkedIn Corp., API breach has become a routine occurrence.
Despite these dangers, Pynt noted that many developer teams place little emphasis on API testing since they are under too much pressure to speed up software upgrades. Additionally, there is a talent gap for qualified cybersecurity professionals.
To fill this void, Pynt developed an API security autopilot that assumes the role of a white-hat hacker and uses human logic to build attacks and find vulnerabilities before they are discovered by real hackers out there. Additionally, Pynt can interact with hundreds of well-known API development tools, such as Postman, and continuous integration/continuous development pipelines, giving nearly any developer access to a completely automated API security solution.
The business, which has several Fortune 500 clients, provides freemium and enterprise versions of its technology. Its platform not only automates the detection of API vulnerabilities throughout the development process but also provides thorough reports and dashboards along with helpful advice on resolving the problems it finds.
Tzvika Shneider, Chief Executive and Co-founder of Pynt mentioned that securing APIs is pivotal to companies, as they play as guards to their empire. “These doors should be both secure by design and well-guarded, with the door makers and the guards sharing the responsibility,” he explained.
Another problem Shneider discussed is that most developers don’t hold safety expertise, while security personnel are not engaged actively in the software development process. “Both already have a lot on their plate, so we solve that problem by elegantly shifting left API security,” he said.
The founding members of Pynt, comprising Chief Technology Officer Ori Goldberg, Chief Product Officer Ofer Hakimi, and Chief Security Officer Golan Yosef, have extensive software development and security backgrounds as they earlier worked with Harman International Inc. to develop automotive applications.
Brian Rozenzweig, the founding partner of Joule Ventures, said Pynt’s efforts of securing APIs pre-production is a logical approach for many businesses, as they’re already seeking to adopt “shift left practices.” “This Pynt team has an exceptional combination of experience, technical acumen, and vision and is poised to make a significant dent in the API Security market,” he added.